Siemens is set to exit or reduce its 50 percent state in its telecom equipment joint venture Nokia Siemens Networks (NSN) in April when their 6-year shareholder deal ends, people familiar with the matter disclosed.
Sources close to Siemens cited that the German industrial leader prefers a private equity investor or high-end consortium to take control of NSN's majority stake.
In recent quarters, NSN is seen to have turnaround signs when around 20,500 out of 74,00 jobs were cut in 2012 resulting from a massive restructuring effort.
Siemens and Nokia have long wanted to exit the joint venture through initial public offering or a buyout.
Both companies have not yet commented on the matter.
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